Pedro Vergne-Marini, MD, founder and managing member of Physicians' Capital Investments spoke at the 18th Annual Ambulatory Surgery Centers Conference in Chicago on Oct. 27 and discussed how real estate ownership can help physicians control more of their revenue streams.
Dr. Vergne-Marini said ASCs and physician practices are trying to save money wherever they can these days, regardless of what the Patient Protection and Affordable Care Act brings to the landscape. One of the biggest things that confounded him and other like-minded physicians was the concept of paying rent on a facility to someone else.
As the days of the solo practitioner are waning, he said physicians can improve the revenue streams of their offices or surgery centers if they look into building and financing their own facilities. "If you don't have well-oiled office practice, you are going to lose money," Dr. Vergne-Marini said. "The only thing that we have kept that is making money at the same rate or greater today is real estate, and that is really important."
Most ASCs require $2 million to build from the ground up, and companies like his own look to hone in and help physicians who may have trouble financing the construction or funding of their buildings by pulling multiple resources together. This could be especially helpful for ASCs or practices that have retiring physicians and are recruiting young physicians to take their place. "When you have someone that is retiring, bring in younger partners at fair market value, and they have skin in the game," Dr. Vergne-Marini said.
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Dr. Vergne-Marini said ASCs and physician practices are trying to save money wherever they can these days, regardless of what the Patient Protection and Affordable Care Act brings to the landscape. One of the biggest things that confounded him and other like-minded physicians was the concept of paying rent on a facility to someone else.
As the days of the solo practitioner are waning, he said physicians can improve the revenue streams of their offices or surgery centers if they look into building and financing their own facilities. "If you don't have well-oiled office practice, you are going to lose money," Dr. Vergne-Marini said. "The only thing that we have kept that is making money at the same rate or greater today is real estate, and that is really important."
Most ASCs require $2 million to build from the ground up, and companies like his own look to hone in and help physicians who may have trouble financing the construction or funding of their buildings by pulling multiple resources together. This could be especially helpful for ASCs or practices that have retiring physicians and are recruiting young physicians to take their place. "When you have someone that is retiring, bring in younger partners at fair market value, and they have skin in the game," Dr. Vergne-Marini said.
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7 Ways to Position ASCs for SuccessThinking of Building a New ASC: How Will You Begin Financially?
5 Questions for Surgeons Considering Investing in Surgery Centers